Buying and selling South Lake Tahoe luxury homes for sale does not have the same process as average priced homes for sale in South Lake Tahoe. A seller wants to highlight the key features that make their home stand out while the discerning buyer wants to find the property that matches their criteria. As a South Lake Tahoe Realtor who specializes in helping luxury buyers and sellers, knowing what is happening in this high-end market is necessary for both parties. As is having someone who is well versed in navigating this exclusive type of real estate. Below is a brief snapshot of South Lake Tahoe luxury homes for sale that are priced at a million or over. Quick note, this is for the California side of the South Shore and does not focus on one specific neighborhood. If you want to look in a certain area, the market analysis will likely differ.
The average sold price for South Lake Tahoe luxury homes for sale is currently at $1,427,756. This is down in comparison to this time last year at $1,591,009. The median sold price for the luxury market is $1,237,500 which is also down from last year’s number of $1,401,250. The average percentage of list price is 94.2%. While this number may not be 100% of list price, this number is not bad for luxury homes for sale in South Lake Tahoe. Your Luxury South Lake Tahoe Realtor can further explain how this number benefits you.
The amount of South Lake Tahoe luxury homes for sale is currently at an 8. The amount of closed luxury homes for sale in South Lake Tahoe is at a 46. New listings are down by 43.8% while luxury pendings are up 2.3%. The month supply for this high end market is at a low 2.1. Anything less than 4 is considered a seller’s market while anything over 6 is considered balanced. While luxury homes across the U.S. were expected to be in a buyer’s market this year, South Lake Tahoe real estate is a little bit different thanks to it being a second resort market. For more information on luxury homes for sale in South Lake Tahoe, feel free to give me a call. I would be happy to help.